The Hund price has pumped 64% in the past week and 3% in the last 24 hours to trade at $0.01267 as of 12:20 a.m. EST on a 283% pump in trading in trading volume to $11 million.
Hund Price Rebounds: Can The Bulls Sustain The Momentum?
The HUND/USD price action is characterized by consolidation after a sharp parabolic rally. The price is currently trading at $0.01267, just below the 50-period moving average (MA) at $0.01202, which is acting as a significant short-term resistance level.
Meanwhile, the 200-period SMA at $0.01034 serves as a robust support level, offering a foundation for buyers to hold the price above this critical threshold. This is crucial, as the 200-period SMA often acts as a key indicator of long-term market sentiment. The recent parabolic rally began after a prolonged consolidation below $0.006, marking this area as a base of strong accumulation before the breakout.
HUNDUSD Analysis Source: Dextools.io
The Relative Strength Index (RSI) is currently at 62.80, suggesting the market has regained some bullish momentum. However, this still gives the bulls the opportunity to drive the Hund price up in the short term before entering overbought territory.
Additionally, the MACD shows a bullish crossover, with the MACD line moving slightly above the signal line. This indicates that bullish momentum is in its early stages of recovery after the pullback from the parabolic highs. The consolidation phase, as shown on the chart, indicates that the market is stabilizing and gathering strength for the next potential leg up.
Hund Price Eyes Breakout Above The $0.01267 Resistance Level
With support from the 200-period SMA, a recovering RSI, and a bullish MACD, the technical indicators indicate the market has a solid foundation for upward movement. HUND/USD is also approaching a critical juncture, with the price eyeing a breakout above the $0.01267 resistance level.
A successful move above this level could pave the way for higher targets, with the next milestones at $0.014 and the $0.016-0.017 range, where stronger resistance is likely. If the bullish momentum persists, the market could even aim for a retest of recent highs near $0.020.
On the downside, failure to clear $0.01267 or hold the crucial support at $0.01034 may trigger a deeper correction. In such a scenario, the price could revisit the $0.008 range, which aligns with the earlier consolidation zone.
Solaxy Presale Closes On $7 Million – Best Crypto To Buy Now?
As the Hund price climbs, investors are also snapping up the new Solana meme coin Solaxy (SOLX), the first layer-2 solution on Solana and a project that has raised over $6.9 million since launching its presale.
According to the popular YouTube channel 99Bitcoins, with over 719K subscribers, Solaxy could skyrocket 100x after its official launch.
Solaxy is quickly gaining attention as the crypto community rallies behind its potential to revolutionize blockchain technology.
As a Layer 2 solution, Solaxy addresses some of Solana’s biggest challenges, like network congestion, transaction failures, and scalability issues, while delivering ultra-fast, low-cost, and reliable transactions.
What sets Solaxy apart is its ability to seamlessly bridge Solana and Ethereum, creating a powerful ecosystem that combines Ethereum’s liquidity and security with Solana’s speed and scalability.
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— Sammie Ranking (@Samuel__Martins) December 24, 2024
This unique integration positions Solaxy to cater to the growing needs of decentralized finance (DeFi) enthusiasts and meme coin traders alike.
SOLX token holders have even more to look forward to with the platform’s staking feature, which offers a massive annual yield of 562%.
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Solaxy is set to enhance blockchain innovation through limiting congestion, reducing failed transactions, and improving scalability on SOL.… pic.twitter.com/satNF6zFNF
— Best Wallet (@BestWalletHQ) December 17, 2024
Right now, you can grab SOLX tokens during the presale for just $0.001584 each using BNB, ETH, USDT, or even a bank card.
With a price increase coming in about 8 hours, interested investors should buy soon to lock in the best deal.
Visit Solaxy here.
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